The Association of American Publishers released its year end statistics this morning, and publishers ended the year with a bang.
The 1,209 trade publishers who contributed data to AAP collectively reported that their 2014 revenues were up 3.8% over 2013 and reached $7.2 billion, compared to $6.9 billion in 2013. eBook revenues were also up in 2014, beating the growth curve, but neither matched the ongoing growth of downloadable audio, which saw a 28.7% growth over 2013.
The adult trade segment defied the grown, dipping 1.4% to $4.7 billion. Kids/YA rose almost 21%, to $1.9 billion, while religious presses rose 1.3%, to $554 million.
In terms of formats, hardback sales dipped in 2014 while both eBook and paperback revenues increased. I know that sounds contradictory, given that trade ebooks are seen as the new paperback, but the AAP's member publishers reported that revenues from paperback sales were up 8.3%, to $2.1 billion, while ebook revenues were up 4.7%, to $1.6 billion. Hardback sales dropped by half a percent, from $2.57 billion to $2.56 billion.
All in all, this was a bumper year for this part of the digital publishing industry.